Standout Performance At Index & Single-Stock Levels
Sunil Koul of Goldman Sachs Research says the Indian equity market is still full of potential 10-baggers – the highest such proportion across a series of major markets
MUMBAI, July 1 (The CONNECT) – Over the past two decades, India has seen its economy grow seven-fold. During these boom times, Indian equities have delivered substantial returns, with standout performance seen on both an index and single-stock level, says Goldman Sachs Research.
Sunil Koul of Goldman Sachs Research examined the proportion of stocks in various markets that have generated “10-bagger” returns – meaning they’ve delivered at least 10x total returns in their local currency over a given five-year rolling period since 2000.
Within India’s NSE 500 index, more than half of the stocks are 10-baggers, Koul found. That’s the highest such proportion across a series of major markets.
Koul believes that the best is yet to come, given that three significant drivers for the Indian economy remain in place: favorable demographics, ongoing reforms and increasing digitization.
“In our view, the Indian equity market is still full of potential 10-baggers,” Koul concludes.
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